SEVI 3013 Exam 1 Study Guide 2023 with complete solution
1 view 0 purchase
Module
SEVI
Institution
SEVI
SEVI 3013 EXAM 1 Study Guide 2023 with complete solution
Strategic Competitiveness
Firms achieve this by formulating and implementing a value creating strategy
Strategy
An integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive ad...
sevi 3013 exam 1 study guide 2023 with complete so
Written for
SEVI
All documents for this subject (86)
Seller
Follow
LECTMAGGY
Reviews received
Content preview
SEVI 3013 EXAM 1 Study Guide 2023 with complete
solution
Strategic Competitiveness
Firms achieve this by formulating and implementing a value creating strategy
Strategy
An integrated and coordinated set of commitments and actions designed to exploit core
competencies and gain a competitive advantage
Competitive Advantage
A firm has this when by implementing a chosen strategy, it creates superior value for
customers and when competitors are not able to imitate the value the firm's products
create or find it too expensive to attempt imitation
Above-Average Returns
Returns in excess of what an investor expects to earn from other investments with a
similar amount of risk
Risk
An investor's uncertainty about the economic gains or losses that will result from a
particular investment
Average Returns
Returns equal to those an investor expects to earn from other investments possessing a
similar amount of risk
Strategic Management Process
The full set of commitments, decisions, and actions firms take to achieve strategic
competitiveness and earn above-average returns
Hypercompetition
Condition where competitors engage in intense rivalry, markets change quickly and
often, and entry barriers are low
Global Economy
One in which goods, services, people, skills, and ideas move freely across geographic
borders
Strategic Flexibility
A set of capabilities firms use to respond to various demands and opportunities existing
in today's dynamic and uncertain competitive environment
Resources
Inputs into a firm's production process, such as capital equipment, the skills of individual
employees, patents, finances, and talented managers
Capability
The capacity for a set of resources to perform a task or an activity in an integrative
manner
Core Competenices
Capabilities that serve as a source of competitive advantage for a firm over its rivals
Vision
A picture of what the firm wants to be and, in broad terms, what it wants to achieve
Mission
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LECTMAGGY. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £9.79. You're not tied to anything after your purchase.
